Copeland Capital Management LLC Acquires 329,831 Shares of Concentrix Co. (NASDAQ:CNXC)

Copeland Capital Management LLC boosted its position in Concentrix Co. (NASDAQ:CNXC - Free Report) by 32.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,333,206 shares of the company's stock after acquiring an additional 329,831 shares during the quarter. Copeland Capital Management LLC owned 2.06% of Concentrix worth $57,688,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in Concentrix by 1.3% in the third quarter. State Street Corp now owns 1,401,953 shares of the company's stock worth $71,850,000 after purchasing an additional 18,304 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Concentrix by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 878,092 shares of the company's stock valued at $45,013,000 after acquiring an additional 43,295 shares during the period. Invenomic Capital Management LP grew its holdings in Concentrix by 354.3% in the third quarter. Invenomic Capital Management LP now owns 472,243 shares of the company's stock worth $24,202,000 after purchasing an additional 368,295 shares during the period. Loomis Sayles & Co. L P grew its holdings in Concentrix by 8.1% in the third quarter. Loomis Sayles & Co. L P now owns 305,492 shares of the company's stock worth $15,657,000 after purchasing an additional 22,815 shares during the period. Finally, Millennium Management LLC increased its stake in Concentrix by 212.0% in the second quarter. Millennium Management LLC now owns 138,532 shares of the company's stock valued at $8,766,000 after purchasing an additional 94,130 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Stock Down 0.7 %

Shares of Concentrix stock traded down $0.33 on Wednesday, hitting $48.67. The company had a trading volume of 272,332 shares, compared to its average volume of 830,207. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.72 and a beta of 0.66. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $86.33. The stock has a 50 day moving average of $46.26 and a 200-day moving average of $53.33.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.01 by $0.25. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the firm earned $3.36 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st will be paid a $0.3328 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.74%. Concentrix's payout ratio is presently 35.85%.

Insider Activity

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the transaction, the executive vice president now owns 41,111 shares of the company's stock, valued at $2,285,771.60. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 1,500 shares of company stock valued at $72,400 over the last three months. Corporate insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reduced their target price on Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $75.00.

Concentrix Profile

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.